Bitcoin Braces for US GDP and Core PCE Data After Fed Hold
- —Q3 GDP is expected at 3.1%–3.2% annualized, up from 2.2% in Q2
- —Core PCE is forecast at 0.3% m/m and 3.1% y/y, above the Fed's 2% goal
- —The Fed held rates at 3.75%–4.00% on October 28 in a 10-2 vote
- —Strong GDP with hot PCE is the most bearish mix for Bitcoin
Why it matters: A hot PCE print could delay rate-cut bets, lift Treasury yields and the dollar, and pressure Bitcoin.
Source: Cryptonews.net